Kim Vos (24) is employed as a senior within the audit practice of CHF. Kim is currently following the Post-Master Accountancy (PMA) at Tilburg University. Kim has already been working for quite some time in the audit practice of CHF and has several clients in the profit sector. As a senior Kim is responsible for the execution of audit activities. Roel van den Berg RA (32) is employed as a manager within the audit practice of CHF and as of 2014 he is also employed as a professor at Tilburg University. Roel has national and international operating clients in large firms as well as small and medium-sized enterprises (SMEs) and in the non-profit sector. CHF is a rapidly growing company, is nearly employing 450 people and is among the top 15 accountancy firms in the Netherlands. CHF has a nationwide network of offices and is a member of Crowe Horwath International; the eighth largest network in the world with more than 31,000 employees in 125 countries! Why CHF? Kim: “As a student I did several internships at different accountancy firms. That is how I came in contact with CHF. Eventually, I was able to paint a clear picture of the work of an auditor and I made the well-considered choice to work for CHF. What really appealed to me was the casual atmosphere and the multidisciplinary approach at CHF.” “There is not only an informal atmosphere but also a high level of guidance and there is always someone available with whom I can brainstorm with.” Roel: “After finishing my HBO I started my career at EY in the practice of international audit. During my time there I acquired a lot of experience and knowledge. Altogether a decision I will never regret. However, at the time, as a result of the change of course within the ‘big four’ in general and EY in particular (focusing almost exclusively on large companies), I continued to pursue my career at a medium-sized accountancy office. Almost two years ago I made the transition to CHF together with a number of other colleagues from EY. I made my definitive choice for CHF because of their strategy, the innovative ability, the substance, the international connection and the fact that they are solution-oriented. There are all characteristics through which a traditional SME office can anticipate on the ‘market vacuum’ that is currently being drawn by the ‘big four.’ This is an aspect of CHF of which I am a part that is very worthwhile.” Why is accountancy fun and what are the possibilities within CHF? Kim: “My clients consist of a good mix of different branches, which makes my work very challenging and diverse. Moreover, I spend the biggest part of my time with clients along with my audit team. Besides auditors, the teams consist of a taxation specialist and an IT auditor as well. Furthermore, the manager and partner at CHF are also contributing to the work being done at CHF which I find really appealing. Because of this there is not only an informal atmosphere but also a high level of guidance and there is always someone available with whom I can brainstorm with. Simultaneously I am getting a lot of responsibilities and I am involved in (almost) every case. As a result I have already learned a fair bit in my early career.” Roel: “I completely agree with Kim; there is not really much of a hierarchy, this is something what really appeals to me. Working with young but very driven team members is one of the enjoyable aspects of our profession. Just recently we gave our audit practice a boost by hiring a couple of young and passionate employees. This is something that really energizes me. “At the moment we invest a lot in the evolution of an advanced data-driven total solution.” Personal and professional development is considered to be of great importance within CHF. Because of this, CHF has a professional programme which offers employees to follow numerous of external as well as internal practice orientated courses on all sort of levels to develop their skills. So it is up to you at what pace and in which direction your career develops.” The audit practice and the part of data analysis Roel: “The last period a lot happened in our profession but in the upcoming period there are many things bound to happen. Our profession is in motion, is in development as you might say. An important aspect of that development is data analysis. From the first day I started working at CHF, I was involved in the implementation of data analysis in the audit practice.” Kim: “In the meantime our audit approach is mostly based on data analysis and luckily this subject is getting more and more attention in education. In practice, data analysis means that we make connections between data and identify exceptional transactions based on the data we get from IT-systems. By examining the background of these transactions, we are not only capable to make a statement about the correctness of the annual statement (a traditional task of the auditor) but we also incite our customers and furthermore we contribute to the optimization of their processes. Exceptions often indicate a break-through of the prescribed process. This approach which I have seen a couple of times in actual practice has led to successes a number of times. In addition, focusing on exceptions helps to minimize unnecessary and time-consuming sampling, making inspections not only more efficient but also more fun as well!” Roel: “At the moment we invest a lot in the evolution of an advanced data-driven total solution. This means, just like Kim said, that our work has not only changed in regards to the content it also had direct implications on the schedule as well. After all the distinction between the interim and an end-year control will disappear. This also means that future auditors will have to meet different standards. In my opinion, analytical abilities and communicative skills are
The European Post-Master Accountancy and International Post-Master Accountancy programs
The European Post-Master Accountancy program (EPMA) was launched in 2014. Content wise it is identical to the Dutch Post-Master Accountancy program (PMA). Hence, the program covers the complete theoretical part of the RA education. The EPMA is offered entirely in English, yet Dutch laws and regulations (translated) are an integral part of the program. This means that the program is the perfect choice for non-Dutch speaking candidates who work for an accounting firm in the Netherlands or who work abroad and regularly are confronted with Dutch clients. Of course Dutch speaking candidates in an international practice will also greatly benefit from the EPMA since it comprises many international components. The program of EPMA Typically participants have a fulltime job as an assistant auditor at an international accounting firm (mainly the Big-4, BDO, but also some other mid-sized firms). The program consists of a theoretical part which is organized by the university and a practical part which is partially organized in practice by the participants’ employers and partially by the university. “Locations of the EPMA are Tilburg (November seminar), Bucharest (May seminar), and Valencia (July seminar).” The nominal length of the program is a little bit more than two years. Content wise the program is fully equivalent to the Dutch program (the PMA), yet the format is different. Whereas the PMA is given in weekly full-day sessions on Fridays, the EPMA is given in one- and two-week blocks with full-day sessions from Monday till Saturday. Locations of the EPMA are Tilburg (November seminar), Bucharest (May seminar), and Valencia (July seminar). During the seminars in Bucharest and Valencia company visits to accounting firms are organized to get a flavor of the international differences in the way audits are done, the profession is organized and accounting firms are managed. We also invite local lecturers from academia and practice to illustrate how certain problems in accounting, auditing and information systems are approached, including financial reporting regulations, the organization of the profession in Spain, Romania and other countries, and the role of IT in the audit. In addition, candidates can opt for the US CPA qualification. The training for the CPA exam is a separate component of the program. For that purpose the program organizes a one-week training and exam seminar in Chicago (IL). An additional fee applies for the CPA training and exam. Most accounting firms require a motivation letter from their employees if they want to do the EPMA instead of the PMA, so check this before you decide to enroll. Enrollment via www.tilburguniversity.edu/epma. IPMA Besides the EPMA and the PMA Tilburg University also offers the International Post-Master Accountancy program. This program is identical to the EPMA except for the timing and location of the seminars. The seminar are entirely held in Willemstad (Curacao) in April, June and October. Typically candidates work and live in the Caribbean. Including Curaçao, Aruba and Suriname. The IPMA is predominantly in Dutch.
Working at Witlox VCS
My name is Jesse Renier, I’m 22 years old and I come from Bergen op Zoom. After obtaining my Havo diploma I started my HBO business economics program at Avans Breda. During that time I did two internships; one I did at a large construction firm and the other in the FMCG sector. Next to that I was active as chairman and treasurer at study association Oase. Early on I decided that I wanted to continue studying, and I knew the master Accountancy and the RC/RA track would best fit my ambitions. Recently I completed the pre-master, and at this moment I’m enrolled in the master Accountancy program at Tilburg University. Besides studying I really wanted to gain experience within the accountancy profession. Therefore I decided to quit my job as team leader at a supermarket after I graduated from HBO and instead applied for a job at an accounting firm. It was around 8 months ago that I started at Witlox VCS as a working student in the audit department. As a working student your schedule is very schedule. I work at least one day a week, but it can be more if I have spare time. “To me, the social aspect and a friendly environment is very important within an organization, and Witlox VCS can offer me that.” Why Witlox VCS? Witlox VCS is a medium sized accounting firm, with approximately 120 employees. The name is well known among small and medium sized companies in the area of Breda. I’ve known about Witlox since my first year at HBO, and I have a couple of friends who did their internships there or already work there. After an inhouseday I immediately was enthusiastic! I especially liked it that they took me seriously from the beginning, even though I am still a student, and I felt this was unique to the company. The atmosphere at Witlox VCS is informal and the organization is quite flat. During the inhouseday I had a personal conversation with my current supervisor Hugo Fransen, who happens to also be a partner of the firm. After I was hired, I quickly got to know many people at Witlox VCS. Among those people are tax and payroll specialists, corporate finance advisors and of course a lot of accountants. To me, the social aspect and a friendly environment is very important within an organization, and Witlox VCS can offer me that. They also organize many fun activities. A few months ago, for example, I played volleyball on a ‘team-day’. Besides that I was invited to join the ‘employee-day’, which was a lot of fun. The general atmosphere at the firm is very different from what I’ve experienced at other companies. Three weeks ago, for example, the CEO drove me and my girlfriend to one of our colleague’s wedding. But what do I do exactly? At Witlox VCS, I work with an audit team that specially focusses on the bigger clients, while several other firms mainly focus on SMEs. This means that my team consists of assistants and accountants that are concerned with the control practices of the larger clients of Witlox VCS. It does not mean however that I don’t get to see what the other teams are doing, as Witlox VCS likes to offer their clients a complete package. I often get to see clients that make use of our payroll department, but I also work for clients from corporate finance and tax. I like the fact that the organization is large enough to have multiple in-house specialists, while at the same time you get to be involved in a lot of cases. In other words, the firm is small enough in a way that you can still see what is actually going on and be able to see the connections between it all. My team consists mainly of RA-accountants and RA-students who come from many different universities; Neyenrode business university, Tilburg University and the Erasmus University for example. Next to that there are also a couple of working students, like myself. Witlox VCS wants to be an advisor and sparring partner for their clients and that ambition is reflected in my work. Sometimes I’m working with benchmarks and data-analyses for example in order to be able to understand and help clients in a better way. “Employees follow and internal development program that is supported by an external company.” Does working and studying combine well? I think it does! Of course, it’s a full-time master, but you see many students who combine it with an internship or a job. Witlox VCS offers me a lot of space so I can concentrate on my study. It is very important to my colleagues and supervisor that I complete the program well. During exam periods I get more time to study if it’s necessary, and after this period, when my schedule is less full, I am able to work more since my school schedule allows it. After I finished my pre-master, I had the time to work fulltime for four weeks. I learned a lot during that time and I received my own financial statement assignments. And what about personal development? Education and personal development are highly valued by Witlox VCS. Once every two weeks we get trainings that are sometimes just for our team, and other times with multiple teams. This way we keep developing ourselves. Those trainings can for example be about the IT-audit or materiality. Besides that there is a lot of room for personal development. Employees follow and internal development program that is supported by an external company. This can help you in everyday conversations with clients. Witlox VCS also offers my educational possibilities, such as the post-master Register Accountant program, but also the Executive Masters in Business Valuation and Finance & Control (Register Controller). Therefore Witlox VCS will also be a valuable employer in the future. What would you like to say to students of Tilburg University? Look for something you really enjoy doing
Working at PwC
I am Anneloe van de Wijdeven, 23 years old and a Tilburg University Accountancy student. I started my bachelor studies Business Economics in 2012 and am currently finishing my Accountancy master’s. I am writing my thesis at PwC Eindhoven. During my studies, I have been an active member at study association Asset | Accounting & Finance and at student hockey association SHOT, where I was a board member for a full year. Besides, I studied in Madrid for one semester. As a second-year student, I visited several activities from different accounting firms, which all provided me the opportunity to get to know the profession and atmosphere at each of these firms. Through these experiences I knew for sure: I am numerically-minded, looking for a challenge and I get energized from people around me: accountancy it is! How did you get to work for PwC? After my exchange in Madrid I started orientating on the accounting profession. Through activities from Asset | Accounting & Finance, like in-house days, network drinks and workshops at the university, I had conversations with representatives of both Big Four firms and SME-oriented auditing firms. I spoke to employers and recruiters from different organizations. I directly felt connected with PwC: attention to your character and interests are their first priority. During the application procedure, they will dive deeper into your motivation for the accounting profession at PwC and will discuss your cognitive abilities. I noticed that not everyone has to comply to one certain profile: diversity leads to bonding. What does your internship at PwC look like? On my first day at PwC, I was shown around and introduced to other thesis interns and my future colleagues. I also got a coach assigned who helps me with thesis related questions, work within PwC and opportunities to perform audit work at clients during my internship. This is however not obliged, but I highly recommend it. It was my first encounter with the accountancy profession in practice. During my thesis internship, they involved me in all informal activities, like the Christmas party and drinks. This year I am also joining the ski trip. Furthermore, I have chosen to extend my internship into a two month temporary employment with the audit practices for two months to learn even more. What are you up to next? I will kick-start my career in PwC’s The Associate Academy, the leading accountancy traineeship that offers you the opportunity to have clients in all sectors, upcoming september. The high expectations that I have, have influenced my choice for PwC. The prospect of gaining experience in young teams, alternation in different market sectors and personal coaching makes me really enthusiastic. Through my colleagues I have learned more about the practical content of the work, the constant training through development days, but also organized outing and already build a network at PwC. My ambition is to achieve the RA-title. I will therefore proceed my education through a post-master starting in september. Besides, I attended a recruitment event during my thesis internship and noticed that I like to carry forward my enthusiasm to others. That’s why representing PwC at recruitment events and coaching of new colleagues seems interesting to me. The upcoming years I hope to be able to orient myself further on the accountancy profession and shape a clear image of my (specific) ambitions in the working life. Do you have any advice for your fellow students? I would like to advice to students who are still orientating on their future to consider a broad range of activities next to their studies, to create a social network and discover what is specifically of their interest. Joining a student of study association can bring you many opportunities like getting in touch with different firms. The perfect answer to the question for which firm you should choose? Find a firm you feel connected to. You perform best in a pleasant and inspiring environment! – This article is translated by an editor of Faces Online
Interview with Huub Arendse, CFO Achmea
Could you tell us something about yourself, your education, and your career? In 1982, I started my career at one of the predecessors of KPMG, where I started in the accounting practice. With this company, I worked for a few years in America. After my return to the Netherlands, I did a lot of work at the department transaction services and eventually I made the transfer to the advisory practice. In 2006, Achmea went out for tender regarding the accounting practice and this was partly the reason that I returned to the audit practice. KPMG won the tender and from that moment on I signed the audit opinion of KPMG regarding the reviewed financial statements until 2010. In 2010, I returned to the advisory practice, where I worked until April 2013 when I became Chief Financial Officer at Achmea. Currently, I work almost four years at Achmea and I still enjoy it! It is very special to be at the other side of the table. Right now, I can implement things that I advised my customers before. This is quite a difference, but it is a very interesting switch. This is something that I always wanted and I got this opportunity at Achmea. What does a normal work week look like for you? My agenda is quite filled with diverse appointments. Appointment items that are on the agenda are well-prepared the day before the meeting. On Mondays, the weekly meeting of the executive board of Achmea is taking place and I regularly prepare myself for that meeting on the Sunday. I always try to really take a day off on the Saturday. The time spent is in the end quite intensive. Luckily, I obtain a lot of satisfaction and joy from my job. Everyone knows the term Chief Financial Officer and most people know what it stands for, but what are the specific tasks that are related to the term CFO? As the CFO of Achmea, I am responsible for a broad spectrum of activities. Almost every insurance company has its own dynamics. Achmea has a balance sheet total of approximately 100 billion euros and written premiums total around 20 billion euros per year. Everything that has to do with solvency, but also profitability and liquidity, asks for the right amount of attention. Costs, rate of return, asset management and investment performance, and the accounting effects that could have an influence on it… For me, this makes the job interesting and diverse. As a CFO, it is important to really understand the business you’re in. You want to make decisions that are based on the right grounds. Different from the advisory practice as an accountant, as I am myself in charge now. Therefore, it is crucial that all components of the business activities are well thought through. In the beginning, it takes a lot of energy; however, eventually it will pay off with a lot of energy. “The core is that you need to anticipate.” Luckily, there are a lot of valuable people within Achmea, who perfectly know their field of expertise. Without good preparation and for instance reliable reports, it is very hard to make good rational decisions at the top of the organization. To what extent are you currently involved in the accounting practice? I am up to speed with the latest developments and standards in the accountancy practice. Any changes there are of course also important for my current responsibilities. The core is that you need to anticipate. Within the Dutch Association of Insurers, the committee Financial and Economic Matters (FEZ) handles with economic and financial cases. The six largest Dutch insurance companies and some medium-sized companies are represented and currently, I perform as chairman. Subjects that are relevant for all insurers, are addressed yearly by me as chairman with the sector Insurance and Pensions of the Dutch Professional Organization of Accountants (NBA). Of course, I also have frequent discussions with the external accountant of Achmea. Last but not least, I always faithfully obtain my PE-points (Dutch equivalent of CPE) to preserve my RA-title (Dutch equivalent of CPA). I would like to keep this title, because I studied for it for years and it is a wonderful title to have! What do you think about the education of the current RA students? The post master Accountancy is an outstanding study. An economical education program with an accountancy study afterwards is an incredibly good way of learning. I got to know a lot of companies from the inside; from entertainment to production, from trade to insurance and banks. Someone with such an education thinks quickly in terms of wealth-creation versus risks. That is a very valuable approach. What are the most important value drivers of this company and where are the most important risks? It is then really in your genes to think in that way and that is of course also really valuable in a CFO position. I did not want to miss it. The structure of starting with accountancy and to start your educational program is simply very good. I can recommend it to everybody! For the study area, it is good to pay close attention to the discussion between rule and principle-based. The trend is moving towards rule based. Initially, a reference is made to the rules, when a problem is occurring. That is understandable because people want as much assurance as possible. Principle-based can be complex, but it is important to keep thinking about ‘the conceptual basis of the regulation’ and not only to act by the letter… It would be a shame if an accountant would only be seen as an ‘IFRS-police’. What is the most important thing you have learned in the different functions you had in your career? With KPMG as well as with Achmea, I have learned that working in a team almost always leads to better results. Every team has its’ own dynamics, but the outcome of cooperation is almost always the best. That is also how we
Working at Koenen en Co
This video is currently only available in Dutch.
